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I recently had one of my homes for rent but since the comminty doesn't allow for rent signs I put up a FSBO sign with my own phone number. I got many, many calls from (ofcause neighbors who just were interested in the price) potential buyers, renters and agents. Most agents just asked if I would be willing to work with an agent and were very polite, some tried to convince me to have an agent rent it out for me and manage it for me, without pushing me...which I don't mind since that is their business. A few were plain rude in the way the approched me...telling how stupid I'm and/or just telling me that I have to pay them at least 1 months rent to have it rented it out or I will never rent it out because they won't show my home....
1 Realtor went so far to say that he had a client with him in the car and he could show the home...I told him I would be there in less than 5 min, but he said that was taking too long. He wanted to go in with using the lockbox....weird since there was no lockbox on the door....He than stated his client couldn't wait any longer and he would call me back....he did an hour later to ask me how much I would pay him for the referral...I told him I would have to think about it since to me this was all not making any sense. Later that same day a lady calls me and tells me she was with the realtor in a car driving behind him and she didn't want to go in my house with him since he was just a realtor showing a home she had called for and not her realtor...I showed her the home and she stated that he was so rude and try to have her sign a contract with him...which she didn't do.... This is just an example of agents making the market bad and luckily there are others.
To me if an agent doesn't want to show my FSBO...that is his choice and he is missing out on a easy deal....I don't understand why I should sign a contract stating a agent is not representing me, isn't that the world up side down. If I don't have a reprenstation contract that means I don't have representation, that is why I have FSBO and doesn't that say enough....I really would have to think hard to sign that paper.....makes no sense to me.
Good post , you tell it as it is , from experience.
I had a lesser experience. I had a potential buyer send his Brother over to look , as the buyer was out of state. Had a nice showing , the " Brother" informed me he was a Realtor, representing his brother. After the showing he called me , and asked about "his commission " . I informed him he was representing the buyer , not me the seller , not my problem. I discussed this over the phone with the out of state buyer , he was appalled, his own brother !.As things wound up , he bought the home , clean sale , cash , no problems. What he gave his brother I do not know , if anything. ..... I guess , thing I still wonder about is , If an agent works for a Broker , can he assist in the purchase of a home outside the firm he works for , in any way ? This was in Michigan.
With all due respect, as the buyer's agent, you represent nothing more to a seller than another outstretched hand at the closing table (I'm NOT implying you don't provide value to the buyer). It is your client that I'm after. And if an agent refused to facilitate the transaction on behalf of its client due to a seller's unwillingness to give the buyer's agent this comfort, the buyer's agent is simply getting in the way of the deal.
On the other hand, if the buyer wanted something, and in exchange they were willing to give something back (e.g. The purchase price) I would be much more open to the idea.
Actually in Oregon it's not a comfort it is a requirement. I don't know about Texas. Agency relationships need to be acknowledged in the purchase and sale agreement. It's Oregon law.
I really don't get where you are coming from. So what you are saying is that you are willing to not follow the laws, unless the buyer agrees to a better price for you?
The debate that is occurring on this topic is one of the reasons why some agents will avoid FSBO's. It can be tiring to get into debates about things that are required by law. If you don't like it or agree with it, that would be a matter to take up with your state congressman.
What I see here is alot of people saying Realtors want this and Realtors want that but I am not willing to give it to them.
You expect the realtor to do the work but not get paid.
Are you surprised then that some Realtors avoid FSBO's?
With the plethora of homes on the market at this time, I am certainly able to find the right home for my buyer without having to hassle with FSBO's.
Most times at a considerably lower price than the FSBO's. Granted there will be an occasional FSBO that is priced right but for the most part they are not.
As far as the flat fee and limited service realtors.
Where I am at least, the ones that are still around, you can not reach on weekends or after 5 o'clock and when you can reach then they are usually dumber than a sack of rocks.
So yes, many times I avoid them also.
My job is to find my buyers a home, not sit around for days waiting for a call back from a discount realtor to get a code for the lockbox.
Actually in Oregon it's not a comfort it is a requirement. I don't know about Texas. Agency relationships need to be acknowledged in the purchase and sale agreement. It's Oregon law.
I really don't get where you are coming from. So what you are saying is that you are willing to not follow the laws, unless the buyer agrees to a better price for you?
The debate that is occurring on this topic is one of the reasons why some agents will avoid FSBO's. It can be tiring to get into debates about things that are required by law. If you don't like it or agree with it, that would be a matter to take up with your state congressman.
You are correct - you don't get what I am saying. The seller is not doing a transaction with you, so there is no reason to give you anything. If the buyer asks for something, of course that's a different story b/c the seller DOES want to do a deal with the buyer.
IMO it is ridiculous to think that someone with whom you have no contractual relationship should be pressured to sign something that you get a benefit from but the seller gets nothing out of.
Will you sign something for the seller that says that the seller is not liable for anything that you tell your buyer?
This is a simple business transaction. There is no reason for an agent to start demanding protections from folks who never asked the agent to be involved.
And your last paragraph is indicative of the conflict of interest that agents must deal with. The agents that you describe are choosing their own interests over those of their clients.
This has nothing to do with state specific laws because you can't assume that those same laws exist in other states.
Mike I agree. I had clients in town over the weekend and we had a choice of over 160 homes in their price and area to choose from when I searched the MLS. Many fresh new listings, beautiful homes, priced right with reputable agents
They had time see maybe 20 houses and with this amount of homes to show there was no need to worry about tracking down FSBO's.
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No FSBO's for me, thank you.
For the record, I have used the Non- Reprensentation agreement more to show my listing to a buyer who does not want representation. We never demand we do ask.
This is to protect my client the seller and if he demands it to be signed then the non-represented buyer cannot see his home.
I completely understand why you would want it to be signed - it protects you and offers zero to the seller. Why on earth would a seller want to give you something for nothing?
Okay, this is making no sense at all. A document clarifies the relationship between seller and buyer's agent, and you call this the seller giving something for nothing? Please, explain to me what huge advantage is being taken of the seller, who doesn't WANT to hire an agent to represent them, by signing a document that in essence does nothing more than clarify that very thing? I can't for the life of me figure out what you're on about here.
The attitude that, as THL said, the seller shouldn't have the right to put its own statements into this document just reinforces my thoughts about agents and control, and the something-for-nothing aspect of this type of document.
Again, you're losing me. Now, you've made it clear in discussions on other threads that, as a real estate attorney, you have little to no use for real estate agents and think we have no business using the contract form that attorneys other than you wrote for our use because buyers and sellers should use a contract written by an attorney (go back and read that, folks, and you'll see the internal inconsistency there, but, I swear, that's what I understand from prior discussions), that buyers and sellers should each have an attorney (like you) represent them during the contract phase, and that you absolutely would not sign the standard contract written by the attorneys working for the Texas Real Estate Commission but would mark it up. And you say, without even seeing it, that you would mark up the document referred to above, which holds nobody to anything but is simply a statement of who is NOT working for who, near as I can tell.
How does this "control" anybody? Seems to me it simply puts everyone on the same page as far as understanding what's going on as far as agency is concerned. This is control precisely how?
Oh, and I nowhere said that someone shouldn't "have the right" to make changes to the form in question, or even the contract (though we can't do so, of course, but must refer the seller or buyer to an attorney, such as yourself, if they want to do that because that constitutes practicing law and only attorneys such as yourself have the right to do that - wait, who's got control here?). I simply said that you'd made it clear that pretty much no matter who wrote a contract, if it wasn't yourself, you were going to put your mark on it. That was made clear when you stated, without even reading it, that you would change the document that was referred to earlier. You have every right to do so. I have every right to giggle at that kneejerk response. Giggling is not an attempt to state that you don't have the right to make the changes.
Compared to the extreme liberties with which you mischaracterize my posts, any inference I take from your posts pales in comparison. I feel no need to defend bald faced lies, of which there is no shortage (unless it is simply due to a drastic comprehension deficit).
The fact of the matter is that you are there to serve your client. The other party in the transaction owes you nothing. If there is no relationship, there is nothing to clarify. If the seller so agrees, the seller will take on a contractual obligation owing to the buyer to pay the commission that the buyer agreed to pay you. For you to demand that a seller sign anything that benefits you and provides no benefit to the seller is galling.
I would encourage all buyers to probe their prospective agents for their stance on FSBOs and to certainly refuse to sign an exclusive agency agmt with anyone who refuses to present you with a complete picture of available properties.
IMO it is ridiculous to think that someone with whom you have no contractual relationship should be pressured to sign something that you get a benefit from but the seller gets nothing out of.
Will you sign something for the seller that says that the seller is not liable for anything that you tell your buyer?
You are correct that the transaction is between the buyer and seller which is why commissions aren't a part of them here in Oregon.
There is no pressure, and I've never had a FSBO not sign one. It is such a non-big deal.
The laws came about as a protection for consumers because they were unaware of whom an agent was representing. Many buyers thought agents were representing them when they were in fact only representing the seller, and sometimes FSBO's get confused and think the agent will advise them. If I give agency level advice to a seller, then it creates an implied dual agency relationship for me.
So, most states require that agency relationships are part of a contract when a real estate agent is involved. If you have a buyer come directly to you, then it's a non-issue. So if you don't want to sign a final agency acknowledgment, then just write "No Agents, Please" on your FSBO listing.
Otherwise if a FSBO advertises themselves as "willing to work with agents" then I expect them to help me follow the laws and regulations that I am required to follow. If you don't want to do that, just advertise that way.
And the seller is not liable for anything I tell the buyer. I am. That is why we have E&O insurance.
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